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sgeeeee · 08-31-2004, 09:59 AM

I agree with the reasoning posted so far as long as you believe in the solvency of the system without future recurring reductions in benefits (through CPI adjustments, actual benefit rates, or taxation).

I tend to believe in the solvency of some form of social security, but also believe that we are very likely to see a creeping erosion of benefits moving forward. So the earlier you start collecting, the more likely you might be to reap at a higher benefit rate. That would tend to make me favor early withdrawal.

I'm 50 now, so I don't have to decide for awhile. But my thought is to plan my retirement based on early withdrawal (worst case for my expected longevity), then decide what to actually do when I get very close to age 66. If social security appears to be "fixed" by then and I don't see a good value added use of the immediate extra dollars, I can wait. If I feel like the erosion of benefits is immenent or I think I could really enjoy the extra income, I can start withdrawing.

So even if I start with different concerns and tendancies than others, I end up with the same strategy as everyone else who has posted.

08-31-2004, 09:59 AM	#11
sgeeeee Thinks s/he gets paid by the post Join Date: Feb 2003 Location: Mesa Posts: 3,588	I agree with the reasoning posted so far as long as you believe in the solvency of the system without future recurring reductions in benefits (through CPI adjustments, actual benefit rates, or taxation). I tend to believe in the solvency of some form of social security, but also believe that we are very likely to see a creeping erosion of benefits moving forward. So the earlier you start collecting, the more likely you might be to reap at a higher benefit rate. That would tend to make me favor early withdrawal. I'm 50 now, so I don't have to decide for awhile. But my thought is to plan my retirement based on early withdrawal (worst case for my expected longevity), then decide what to actually do when I get very close to age 66. If social security appears to be "fixed" by then and I don't see a good value added use of the immediate extra dollars, I can wait. If I feel like the erosion of benefits is immenent or I think I could really enjoy the extra income, I can start withdrawing. So even if I start with different concerns and tendancies than others, I end up with the same strategy as everyone else who has posted.